Paris ranks 7th among global crypto hubs: Greenfield Capital

Paris and the France would still have to path to go through before position as global business centers of the ecosystem crypto.

Crypto investor Greenfield Capital is undertaking its first exercise in analyzing the crypto market at the European level. To do so, the VC interviewed, among others, the founders of companies in the ecosystem.

From the first edition of the State of European Crypto Report, Greenfield thus draws six conclusions. First, it is the trust that prevails among crypto executives regarding the 2023 outlook.

2022 the year of the counterfeiters and 2023 the year of the rebound

The latter are confident about the future of the crypto in Europe. “In retrospect, 2022 is considered a year of remediation which reinforced the ethics in crypto”.

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After “the year the forgers went to prison “, the contractors are therefore betting on a “comeback” to 2023. In the longer term, i.e. by 2030, they expect crypto to be ubiquitous, i.e. “ubiquitous”.

Another lesson, and it may come as a surprise, is that the players in the ecosystem see the crypto center of Europe at Lisbon. The Portuguese city is thus considered as the European crypto capital.

The crypto hub would even overtake New York and Berlin in the world. What about Paris? The French capital is positioned at the 7th place in the world. It is also the third European metropolis to be ranked in the top 10.

Paris is highlighted for its burgeoning crypto summit scenes and strong Web3 and NFT ecosystem,” the report reads.

DeFi, US talent and tax pull Lisbon

What accounts for Lisbon’s supremacy? According to respondents, the Portuguese city “owes its position to the depth of its DeFi scene. Many companies and projects are also attracted to the Portuguese capital for tax reasons.

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Finally, “in addition to the influx of talent from other parts of Europe, Lisbon benefits most from what some founders consider to be an American crypto brain drain.”

Brains, by the way, are one of Europe’s assets. However, the leaders fear a shortage on certain functions, especially marketing, communication and sales. It is becoming increasingly difficult to fill these positions.

Towards a shortage of sales talent

As for crypto’s place in initial education, it’s growing. The report notes a rise in the number of dedicated crypto masters in European universities. These student pools are concentrated primarily in the United Kingdom, Ireland and Spain.

A veritable slew of new programs is planned across the continent for the second half of 2023. Most of the courses offered now and in the future are related to finance and economics,” the study says.

As a result of these curricula, the authors deem it “likely that more business talent will become interested in crypto-currency in the coming years.”

Market players also encourage universities “not to neglect” teaching technical skills.

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